About 80% of the billions of dollars pledged by rich nations for South Africa's shift away from coal will be loans, not grants, and some may be hard to unlock due to national rules protecting domestic jobs, an official familiar with the matter said.
Last year the United States, European Union, Britain, France and Germany committed to investing $8.5 billion over three to five years to help South Africa reduce its carbon emissions, which are among the world's highest because it depends on coal for 80% of its electricity.
The person, who spoke on condition of anonymity because the discussions were confidential ahead of a November deadline to close the deal, said South Africa's status as middle income country limited its access to grants, noting that lending rates have yet to be decided. The European Commission and the British government, among the main architects of the scheme, did not comment on the matter.It also may be hard to free up funds from multilateral institutions included in the pledge owing to South Africa's procurement rules, which protect local firms and workers, the source said.
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